Sports Betting Wager Types – How To Bet On Sports
You can join as many online sportsbooks as you want, but you first need to understand the various sports betting wager types for online betting in NY. Many bettors, both beginning and experienced, make the mistake of only focusing on what they believe is the “best” type of wager to place. Truthfully, no one wager is better than the other, as several factors go into placing the right wager. The key to making a smart bet is knowing all of the types of sports bets that you make, and then choosing which one fits the situation. For example, if the Buffalo Bills are heavy favorites but are 5-1 ATS the spread that season, you may find more value on betting the Bills to cover the spread. Likewise, in baseball betting it may be more profitable to make a bet for the first five innings rather than the full ball game.
While the odds will change, sports betting wager types remain consistent throughout online sportsbooks. Those new to sports betting can benefit from our detailed wager type explanations, where we also provide examples of real betting lines that you might come across. Always understand the type of wager that you’re making before laying any money down. In addition to reading about types of sports wagers on our page, all New York sports betting sites have wager type guides that you can use as backup.
Learning how to read betting odds is a feat in its own, but now it’s time to learn the types of wagers at New York sports betting sites. There are a wide range of wager types accepted at online sportsbooks, with some more complicated than others. Typically, the more complex the wager, the greater the potential payout. For example, winning a 3-team parlay will payout much more than three bets laid out separately. We will walk you through the various sports betting wager types that you will find at NY online sportsbooks.
Moneyline
Moneyline bets are the most straightforward of sports betting wager types that you can place. Also called a win bet or a side, you put money on which team you predict will win the game. One side will be favored, which will require you to put more money down, while the other side will be an underdog. Here is an example that can be applied to all types of sports:
- Arizona Coyotes +152 vs New York Rangers -168
To bet on the New York Rangers, you would need to risk $168 in order to win $100. Betting on the opposing team would win $152 on a $100 bet.
Point Spread
The point spread is one of the more popular sports betting wager types, especially with NFL and college football betting. You will also find point spreads in basketball, hockey, and soccer. In spread betting, each side will be assigned a number of points and you will wager on if the team can cover the spread. The favorite must win by a greater margin than indicated by the spread, while the underdog can either win or lose by a margin less than indicated by the spread. Here is an example of an NFL point spread:
- Atlanta Falcons -5 vs. New York Jets +5
The Falcons are favored to win, meaning they must win the game by at least 6 points to cover the spread. If you bet on the New York Jets, the team can either win outright or lose by no more than 4 points. If either team wins or loses by exactly 5, the bet would be considered a “push”. It is common to see point spreads listed with a ½ point in order to prevent a push, i.e. 5 ½ points vs 5.
Totals
Totals is one of the more common sports betting wager types available across most sports. You will also see totals referred to as the over/under. The bookmaker will set a total number of points, runs, or goals to be scored by both teams. You will wager on whether the total will go over or under this amount. Take a look at the example below:
- Brooklyn Nets 220/o vs New York Knicks 220/u
If you want to bet that the game will go under 220 points, you can bet on the New York Knicks. If you want to take the over, put money on the Brooklyn Nets.
Run-Lines
Run-Lines are a type of baseball betting wager. It is similar to the point spread and the moneyline combined. All lines formed are based on listed pitchers, which is why if the pitchers change your bet will be graded as no action. The line for run-lines is 1.5, where the favorite must win by more runs and the underdog must win or lose by only 1 run.
- Houston Astros -1.5 (+145) vs New York Yankees +1.5 (-165)
A $165 bet on the New York Yankees would win $100. The Yankees must win the game or lose by up to 1 run. A $100 bet on the opposing team would yield $145, and the Astros must win by 2 or more runs.
First-Five Innings
First-five innings bets are one of the sports betting wager types exclusive to baseball. With these wagers, you bet on which club will have the most runs at the end of the first five innings. These wagers can be advantageous as you only need to consider the starting pitchers rather than the bullpen as well.
- New York Yankees -135 (Gray) vs. Houston Astros +105 (McCullers Jr.)
With first five innings lines, you will also see the starting pitchers listed. The bets will be graded as no action if the listed pitchers do not start. For this first five innings lines, you could bet $135 to win $100 on the Yankees.
Puck-Lines
As the name suggests, puck-lines are a type of wager for betting on hockey. The bet combines the point spread and the moneyline.
- Arizona Coyotes +1.5 (-170) vs New York Rangers -1.5 (+150)
To win a bet on the Rangers, the team must win by 2 or more goals. The Coyotes can lose the game by up to 1 goal to be considered a winning wager.
Futures
Futures are advance bets placed on events that may happen in the future. For example, you may bet on the winner of next year’s Super Bowl the day after the current season ends. You might wager on the next World Series winner starting in December. There are futures posted on every major sporting event. Here is an example of an NBA futures bet:
Odds To Win the Atlantic Division
- Brooklyn Nets +5000
- New York Knicks +6600
Propositions
Proposition bets are wagers on scenarios other than the final outcome of the game. You might find play props on a specific player, game props on two teams, or a wide variety of novelty props on unique situations. An example of a novelty prop might be whether the coin toss during the Super Bowl is heads or tails, or what color the Gatorade shower will be. Props cover a wide range of scenarios and are available for football, baseball, hockey, basketball, and the majority of other sports. In baseball you might see a prop on if extra innings will be required, while in basketball there may a prop on which team reaches 20 points first. The possibilities for prop bets are endless.
Parlays
A parlay bet is when you combine several different bets into one ticket. All of your bets must win in order for your parlay to pay out. This means that if you have a 3 team parlay and one of your teams fails to cover the spread, you have a losing ticket. On the flipside, if all three of your bets are correct you get a much larger payout than you would if the bets were made separately. New York sports betting sites can allow anywhere from 2-team to 23-team parlays. Most bettors stick to no more than 3 selections to avoid shifting the edge significantly in favor of the house, but the more selections that you have, the more prolific the payout.
More Ways To Wager On Sports In New York
With familiarity of the more typical sports betting wager types, you can explore some of the other ways to wager on sports in New York. You may see “if-bets”, which are bets made contingent upon the results of another wager. You may bet on the New York Yankees to win against the Diamondbacks, IF they first win against the Astros. Another exotic wager type includes round robins. These wagers are essentially multiple parlay bets at once with several possible combinations.
Though not technically a wager type, live betting is another way to bet on your favorite sports. With live betting, the bookmaker will update odds in real-time during a game. This is more interactive and exciting way to bet on sports, with odds changing after each and every play. With live betting odds, your wagering options will include game props, moneylines, totals, even/odd props, and more.